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Skydance Paramount will start large-scale job cuts during the week starting 27 October, eliminating approximately 2,000 positions in the United States within a budget-saving initiative totaling $2bn under top executive David Ellison.

The workforce reduction are a result of the combination of Skydance Media and Paramount Global, which closed in August with a value of $8.4bn.

Further international job cuts are anticipated, with Paramount Skydance planning to announce full details in its third-quarter financial update set for the 10th of November.

Prior news suggested that Paramount was looking to cut between 2,000 and 3,000 roles before the start of November.

Until December 2024, the company retained nearly 18,600 permanent and temporary staff and 3,500 project-based staff.

Paramount Skydance did not immediately respond to a request for comment.